Blockchain technology utilizes a distributed digital ledger to record and track information, and can be leveraged to gain transparency and certainty in transactions ranging from cryptocurrency to supply chain tracking. This blog provides information on the legal developments surrounding implementation of blockchain technology, with an initial focus on the financial services sector.
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Recent House Financial Services Committee Hearing: "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States"
by: Lisa Weingarten Richards , Margaret Haggerty | (December 10, 2021)
The House Financial Services Committee conducted an almost-five-hour hearing December 8, entitled "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States"
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On December 6, 2021, the OCC issued its Semiannual Risk Perspective in which it outlined key issues facing banks that pose threats to their compliance with applicable laws and regulations. The report focuses on five areas: the operating environment, bank performance, special topics in emerging risks, trends in key risks, and supervisory actions. Distributed ledger technology and digital assets are among the trends in key risks.
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Interagency Joint Statement on Crypto-Asset Policy and OCC Interpretive Letter Released the Same Day
by: Stephen T. Gannon , Matthew B. Comstock , Lisa Weingarten Richards | (November 24, 2021)
Banking regulators appear to have begun their “policy sprint” in the crypto space by announcing plans for future guidance and narrowing past guidance.
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Acting OCC Head Calls for "Comprehensive Consolidated Supervision" of Certain Crypto Firms
by: Jonah R. Hecht | (November 17, 2021)
Hsu Calls for Supervision Before a Crisis Emerges
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Today, November 10, 2021, the Securities and Exchange Commission (“SEC”) initiated proceedings against American CryptoFed DAO LLC (“CryptoFed”) and suspended the company’s registration of its Ducat and Locke tokens.
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Commissioner Discusses the Opportunities and Risks of DeFi
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Terra/Luna - Valuable Lessons About What Stablecoins Are and Aren’t
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President Biden Issues Executive Order on Ensuring Responsible Development of Digital Assets
(03/10/2022)
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Who’s On the Block
(01/06/2022)
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01/26/2022 - 01/27/2022 | (12/20/2021)
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